Sony to drop PS3 price as it gives way to PS4

Sony, the manufacturer of the famous PlayStation, will be having its first PlayStation meeting on Wednesday since 2011.

A lot of people are expecting that Sony will launch ita new console PlayStation 4. On the other hand, the company is also expected to announce something about its PS3. Rumors indicated that Sony will be dropping off the price of the PS3 console.

According to a popular games industry analyst from Wedbush Securities, Michael Pachter, after the PlayStation meeting, people should be expecting Sony to lessen the price for its PS3. Currently, the machine with 500GB is now at $299. However, Pachter considers the company to drop the price at $199 only.

Sony to drop PS3 price as it gives way to PS4A huge cut off of the console’s price would be impossible. But if Sony will really be launching PS4 within this year, then the company would want to sell as many as PS3 consoles as it possibly can before shifting attention to the new console. The possible effect of this event would likely be that Microsoft will also drop the price of its Xbox 360, the major competition to Sony’s PS3.